Victoria Beckham fashions £30m investment

An investment firm is putting £30m into Victoria Beckham Limited, the fashion brand founded by the former Spice Girl in 2008.The cash from NEO Investment Partners will allow the firm to expand its operations.Victoria Beckham, the label’s creative director, said NEO understood her wish for the business to remain independent.The deal valued her firm at £100m, according to the Business of Fashion website. Victoria Beckham Limited is part of Beckham Brand Holdings, owned by Victoria and David Beckham and Simon Fuller’s XIX Entertainment.Victoria Beckham receives OBE
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NEO, a private equity firm also founded in 2008, backs brands including the interior design group Tom Dixon, menswear group AMI Paris and bakery chain Paul.David Belhassen, its founder and managing director, described Victoria Beckham as “one of the most exciting entrepreneurs” he has worked with.

“She is an inspiration to millions of women around the world and she has built a unique, differentiated luxury brand with a strong identity and very high potential,” he said. “I am delighted to be working with her and her team to reach the brand’s full potential.”Having initially struggled to be taken seriously by the fashion industry, Beckham’s collections now show in New York and have earned critical acclaim. Some of her items sell for as much as £2,000.The investment will allow the label, which employs 180 people globally, to move into new headquarters in west London next year. David Beckham said he was “so proud of Victoria’s success”.Victoria Beckham received an OBE from Prince William for services to the fashion industry in April.She was named entrepreneur of the year by Management Today magazine in 2014.
Source: BBC